Citation Needed
Coinbase’s Stand With Crypto Alliance fudges the numbers, a (former) crypto industry CEO has a meltdown, and another exchange suffers a nine-figure hack.
Coinbase has tried to portray its “Stand With Crypto” PAC as having broad grassroots support among over a million “crypto advocates”, and boasts on its homepage of nearly $180 million raised by these advocates.
Its first quarterly FEC filing reveals it has had only $13,690 in contributions from seven people over the most recent three-month period. Two of them work for Stand With Crypto and two of them work for Coinbase.
Coinbase's "Stand With Crypto" PAC website is now confirming what I reported earlier.
More than 99% of the amount they claimed was raised by this supposedly "grassroots" PAC is in fact massive corporate contributions to the FairShake super PAC.
Coinbase’s “Stand With Crypto” PAC claims to have raised $87 million, but their donations list totals up to only $1,176,900. They seem to be double-counting corporate contributions to super PACs to overstate how much their “community” supports this supposedly grassroots project.
